OPIS' trusted gasoline and diesel rack prices are available for more than 360 wholesale rack locations every day. Never before have fuel buyers and sellers had such complete price visibililty.
The OPIS Rack Report now includes an "OPIS Spot Mean" quote in over 225 cities for gasoline and distillate. This extra pricing data enlarges the view of the market and provides additional pricing options when buying and selling.
In addition, over 240 locations nationwide contain the OPIS Smart Rack which integrates wholesale gasoline prices with retail gasoline lows and averages by individual markets, and shows valuable profit margins. Use the OPIS Smart Rack to track retail prices, determine average margins for your competitors, benchmark retail and wholesale price averages and to determine the true cost of doing business anywhere.
The OPIS Rack Report also contains the Spot Replacement Index (SRI) in over 215 cities. This innovative addition links local rack markets to bulk spot markets by capturing the "OPIS Spot Mean" daily by product. It then factors in the delivery costs (truck or pipeline tariffs, cost of money, terminal fees, product shrinkage, etc.) to get that spot product delivered to a particular rack.
OPIS is the industry benchmark for oil buyers and sellers who
use rack prices to:
• Negotiate
and benchmark fuel contracts
• Competitively
shop and keep suppliers honest
• Measure
company performance and evaluate competition
• Reconcile
invoices and evaluate inventory
• Ensure
the best price with a quick scan
View a list of
the rack cities OPIS covers
View a sample of the OPIS Rack Report.
You can gain instant access to OPIS gasoline and diesel rack prices when and where you need them with OPIS WebRacks. Get details here.
For more information on OPIS SRI Methodology click here.
"We depend on
OPIS Rack Reports for an accurate price reflection to
keep not only our margins at an exceptional level, but
also to keep us competitive for our customers. Without
this tool we would be reacting too slowly to the volatile
conditions. During extreme market moves, OPIS has done
an outstanding job of keeping track of vendor outages
to help us eliminate inaccurate numbers when factoring
prices."
-- Luke Wiese, Nebraska Iowa Supply Company |
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OPIS gasoline and diesel price discovery includes...
OPIS Standard/Terminal Racks
The OPIS standard rack brings
clarity to rack markets by providing one price per product, per
supplier in each market, even when suppliers post at multiple
terminals. We select the primary terminal for each supplier, so
the OPIS averages that are so critical for benchmarking and market
analysis are not skewed. Complete terminal specific rack data
for all prices posted by suppliers at multiple terminals is available
by request.
OPIS Weekly Newsletter Prices
The OPIS prices which are
posted in our weekly newsletter are also available by individual
rack for delivery on Thursday evenings. This early delivery allows
for a 4-day advance price from the published newsletter price.
Out of Product
Pricing specialists communicate with suppliers and/or customers
to confirm out of product designations, where a product may not
be available for more than 24 hours. Postings which meet this
criteria will be designated "out-of-product" with an
"o" next to the listing. Because of the particularly
complicated nature of the oil distribution system, OPIS will only
denote "out-of-product" where supply is out for at least
24 hours. Products tagged with an "o" will not be part
of the OPIS lows, highs or averages, a policy OPIS has adopted
for a long time to avoid potential skewing of benchmarked wholesale
numbers.
OPIS clients can take advantage of the "out of product"
designation by:
1) Sorting the rack
feed on the "o" footnote next to a supplier
or, by simply looking at the footnotes in your
daily feed.
2) Getting a daily "out of
product" report to use alongside
a rack feed to monitor those suppliers who
are designated out of product each day.
Intraday Price Moves
Due to increased market volatility, suppliers may sometimes
change wholesale prices more than once a day. In these cases,
OPIS offers a Intraday Price Move report which details intra-day
moves not part of the usual 12:01 A.M., or 6:00 P.M. time frames
for updates. In strictest compliance with anti-trust guidelines,
OPIS only releases these prices after their specific effective
time of change.
Early Evening Updates
More and more suppliers have changed their effective time for
price moves from midnight-to-midnight to 6pm-to-6pm for mostly
unbranded product. OPIS tracks these prices to give you an early
update on the direction of the marketplace. |
